Polycab India Limited — Capital/Financing Update 2023

Jun 30, 2023

POLYCAB INDIA LIMITED

CIN: L31300GJ1996PLC114183 #29, The Ruby, 21[st] Floor, Senapati Bapat Marg, Tulsi Pipe Road, Dadar (West), Mumbai -400028 Tel: +91 22 2432 7070-74 Email: shares@polycab.com Website: www.polycab.com

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Date: 30[th] June 2023

To Department of Corporate Services, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001

To Listing Department, National Stock Exchange of India Limited C-1, G-Block, Bandra-Kurla Complex Bandra, (E), Mumbai – 400 051

Scrip Code: 542652 Scrip Symbol: Polycab ISIN:- INE455K01017

Dear Sir / Madam,

Sub: Acquisition of balance 25,000 equity shares of face value of Rs.10/-each held by Bootbhavani Fabricators in Steel Matrix Private Limited (‘Steel Matrix’)

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), please be informed that the Company has executed Share Purchase and Termination Agreement with Bootbhavani Fabricators and Steel Matrix Private Limited on 29[th] June 2023 for acquiring the balance 25,000 equity shares (25%) held by Bootbhavani Fabricators in Steel Matrix.

Pursuant to execution of the aforementioned Share Purchase and Termination Agreement, the Company has completed acquisition of balance 25,000 equity shares (25%) held by Bootbhavani Fabricators in Steel Matrix on 29[th] June 2023.

The acquisition of balance 25% shares from Bootbhavani Fabricators has resulted in Steel Matrix becoming a wholly owned subsidiary of the Company.

The details as required under Regulation 30 of the SEBI Listing Regulations read with SEBI circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 is attached herewith as Annexure A.

Kindly take the same on record.

Thanking you

For Polycab India Limited

Digitally signed by MANITA CARMEN ALBERT GONSALVES MANITA DN: c=IN, postalCode=400104, st=MAHARASHTRA, street=FLAT NO 8BUILDING NO 9PIRAMAL NAGAR S V ROADMUMBAIBESIDES PATEL PETROL PUMP 400104, l=MUMBAI, o=Personal, title=9350, serialNumber=e9923616fb581748338360a9dcca7ddbef5379 CARMEN ALBERT 2338962e492591c02f91606f5f, pseudonym=935020230512111157429, 2.5.4.20=d6b37cc9b008ba4c44a5e26aead891e74cc85aea24 a8e6ad4562fa78a0802a6d, GONSALVES email=MANITA.GONSALVES@POLYCAB.COM, cn=MANITA CARMEN ALBERT GONSALVES Date: 2023.06.30 15:06:05 +05'30'

__________________________ Manita Gonsalves Company Secretary and Head Legal Membership No.: A18321

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Registered Office: Unit No.4, Plot No.105, Halol Vadodara Road Village Nurpura, Taluka Halol, Panchmahal, Gujarat-389350 Tel: 2676- 227600 / 227700

POLYCAB INDIA LIMITED

CIN: L31300GJ1996PLC114183 #29, The Ruby, 21[st] Floor, Senapati Bapat Marg, Tulsi Pipe Road, Dadar (West), Mumbai -400028 Tel: +91 22 2432 7070-74 Email: shares@polycab.com Website: www.polycab.com

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Annexure A

S.No.	Particulars	Details
1.	Name of the target entity, details in briefsuch as size, turnover etc.	Steel Matrix Private Limited (‘SteelMatrix’)wasincorporatedasaSubsidiaryoftheCompanyon11thNovember 2021. The Companyholds 75% equity shares in SteelMatrix and balance 25% shares washeld by Bootbhavani Fabricators.Authorized capital: ₹1.00 CrorePaid–up Capital: ₹10.00 LakhSize / Turnover: N.A. as Steel Matrix isyet to commence operations.
2.	Whether the acquisition would fall withinrelated party transaction(s) and whetherthepromoter/promotergroup/groupcompanies have any interest in the entitybeing acquired? If yes, nature of interestand details thereof and whether the sameis done at “arm’s length”	Yes, the transaction relating to theacquisition of Steel Matrix will becoveredunderthepurviewofRegulation 2 (1) (zc) of the ListingRegulations as the transaction isbetweentheCompanyandBootbhavani Fabricators, a proprietaryconcern of Mr. Rajesh Mistry who is aDirector in Steel Matrix.The Promoter and Promoter Groupentities do not have any interest in thetarget entity.
3.	Industry to which the entity being acquiredbelongs	Manufacturing of Steel drums andbobbins for cables and wires
4.	Objectsandeffectsofacquisition(including but not limited to disclosure ofreasons for acquisition of target entity, ifits business is outside the main line ofbusiness of the listed entity)	The Company has acquired thebalance 25% shares of Steel Matrixwithanobjectiveofsecuringdependable supply of quality packingmaterials, improving control over thesupply chain and increase the overalloperating efficiencies. It would alsohelp to strengthen the backwardintegrationoftheCompany’smanufacturing process.
5.	Brief details of any governmental orregulatory approvals required for theacquisition	Not Applicable.
6.	Indicative time period for completion ofthe acquisition	Not Applicable, as the Company hascompleted the acquisition of shares on29thJune 2023.

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Registered Office: Unit No.4, Plot No.105, Halol Vadodara Road Village Nurpura, Taluka Halol, Panchmahal, Gujarat-389350

Tel: 2676- 227600 / 227700

POLYCAB INDIA LIMITED

CIN: L31300GJ1996PLC114183 #29, The Ruby, 21[st] Floor, Senapati Bapat Marg, Tulsi Pipe Road, Dadar (West), Mumbai -400028 Tel: +91 22 2432 7070-74 Email: shares@polycab.com Website: www.polycab.com

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7.	Nature of consideration -whether cashconsideration or share swap and details ofthe same	Cash Consideration.
8.	Cost of acquisition or the price at whichthe shares are acquired	₹2.50 Lakhs.
9.	Percentageofshareholding/controlacquired and / or number of sharesacquired	Currently, the Company has acquired25% of the paid-up share capital ofSteel Matrix.Post the acquisition, Steel Matrix hasbecome a wholly-owned subsidiary ofthe Company.
10.	Briefbackgroundabouttheentityacquired in terms of products/line ofbusiness acquired, date of incorporation,history of last 3 years turnover, country inwhich the acquired entity has presenceand any other significant information (inbrief)	Steel Matrix will be engaged in thebusiness of manufacturing of steeldrums and bobbins for cables andwires.Steel Matrix was incorporated as aSubsidiaryoftheCompanyon12thNovember 2021, having itsregistered office in the State ofGujarat.Currently, the turnover of Steel Matrixis nil as it is yet to commence theoperations.

For Polycab India Limited

Digitally signed by MANITA CARMEN ALBERT GONSALVES DN: c=IN, postalCode=400104, st=MAHARASHTRA, street=FLAT NO 8BUILDING NO 9PIRAMAL NAGAR S V MANITA ROADMUMBAIBESIDES PATEL PETROL PUMP 400104, l=MUMBAI, o=Personal, title=9350, serialNumber=e9923616fb581748338360a9dcca7ddbef53 CARMEN ALBERT 792338962e492591c02f91606f5f, pseudonym=935020230512111157429, 2.5.4.20=d6b37cc9b008ba4c44a5e26aead891e74cc85aea2 4a8e6ad4562fa78a0802a6d, GONSALVES email=MANITA.GONSALVES@POLYCAB.COM, cn=MANITA CARMEN ALBERT GONSALVES Date: 2023.06.30 15:06:54 +05'30'

__________________________ Manita Gonsalves Company Secretary and Head Legal Membership No.: A18321

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Registered Office: Unit No.4, Plot No.105, Halol Vadodara Road Village Nurpura, Taluka Halol, Panchmahal, Gujarat-389350 Tel: 2676- 227600 / 227700